Anonymous wrote:We retired in our 40s. Since we still had youngish kids, I (the mom), seemlessly blended in with the SAHMs. No one bats an eye. I fill my time with tons of volunteering (even virtually and locally in my community), doing things for my kids and hobbies for myself. I read. I take courses.

A small part of me misses work but that part is very small.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

That's fine, but the $10 million couple isn't saying that they keep working because there's a lot of satisfaction in it. They're saying they want the $10 mil.

By the way, my retiring in my early 50s was the best decision I ever made. I haven't worked in 6 years and haven't be bored for a second. If you think you need to work to keep busy and satisfied you're wrong . . .

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

That's fine, but the $10 million couple isn't saying that they keep working because there's a lot of satisfaction in it. They're saying they want the $10 mil.

By the way, my retiring in my early 50s was the best decision I ever made. I haven't worked in 6 years and haven't be bored for a second. If you think you need to work to keep busy and satisfied you're wrong . . .

Whoa - I am the $10m poster and nowhere did I say I am just working for the money. I like my job. I also have a ton of flexibility to work at the level I want and can turn down projects. I can spend the summer at our beach house (still working of course). My kids are adults and live in other cities. Most of my friends are still working.

As it happens I am also at the peak of my earnings at the moment, and it's hard to walk away from that for nothing particularly specific. I can spend what I want now, while also saving for retirement. I'm living a pretty good life (or at least I will be once I get a vaccine).

I also saw both of my grandfathers retire early and honestly it wasn't good for either of them. Granted that was a different generation, and they were men, but it aged them. Maybe as a result of that my father is still working in his 80s. I don't want that life either. But there is nothing wrong with working until your mid 60's. In fact it's kind of normal? You should do what works for you, but don't criticize my motives for doing what works for me.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

Agreed, this from another poster. Through our lives we've traveled and done a lot. The idea of not working at this point feels like stopping feeling vibrant too soon. But both DH and I love our work. And other than my parents, no one in our family is retired. All of our friends still work. Once everyone else is retiring we might reconsider.

Again, I get your situation -- you love your work, so you keep doing it. That's different from the vibe I got from the $10 mil poster. But, even in your case, why do you thinking working is the only thing that makes you "feel[] vibrant?" I feel vibrant NOT working and being beholden to no one. Just as you feel that you need to work to feel vibrant, I think that it's sad to define yourself by your work.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

That's fine, but the $10 million couple isn't saying that they keep working because there's a lot of satisfaction in it. They're saying they want the $10 mil.

By the way, my retiring in my early 50s was the best decision I ever made. I haven't worked in 6 years and haven't be bored for a second. If you think you need to work to keep busy and satisfied you're wrong . . .

Anonymous wrote:We retired in our 40s. Since we still had youngish kids, I (the mom), seemlessly blended in with the SAHMs. No one bats an eye. I fill my time with tons of volunteering (even virtually and locally in my community), doing things for my kids and hobbies for myself. I read. I take courses.

A small part of me misses work but that part is very small.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

Agreed, this from another poster. Through our lives we've traveled and done a lot. The idea of not working at this point feels like stopping feeling vibrant too soon. But both DH and I love our work. And other than my parents, no one in our family is retired. All of our friends still work. Once everyone else is retiring we might reconsider.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

Anonymous wrote:

Anonymous wrote:54, married, two kids, HHI of $220,000 annually.

Net worth is $1.8 million, plus one of us (DH) would immediately start receiving a $55,000 annual pension if he left his federal government job today.

That includes -

Enough in 529 accounts to pay for the rest of two kids college (one a senior, one a freshman)
$865,000 in retirement accounts.
$565,000 in home equity
$250,000 in mutual fund investments.

I know there are different ways to calculate the value of the pension - the way I look at it, I would need about $2 million in safe investments earning 4% a year to have $50,000 in guaranteed income. So I guesstimate that the pension has a value of about $2 million.

Which mutual funds do you have? What company?

Anonymous wrote:

Anonymous wrote:54, married, two kids, HHI of $220,000 annually.

Net worth is $1.8 million, plus one of us (DH) would immediately start receiving a $55,000 annual pension if he left his federal government job today.

That includes -

Enough in 529 accounts to pay for the rest of two kids college (one a senior, one a freshman)
$865,000 in retirement accounts.
$565,000 in home equity
$250,000 in mutual fund investments.

I know there are different ways to calculate the value of the pension - the way I look at it, I would need about $2 million in safe investments earning 4% a year to have $50,000 in guaranteed income. So I guesstimate that the pension has a value of about $2 million.

This is the PP with the $1.8 million/$55,000 pension.

The mutual funds are Vanguard funds. I started with a mix of 60% stocks (VTSAX) and 40% bonds (VBTLX). That was five years ago, and the mix is now closer to 70/30 because the stock values have gone up more than the bond values.

Which mutual funds do you have? What company?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Late 50's, $8.5m total, including about $2m in home equity (2 houses). Aim is to get to $10m before retirement, which if the market keeps up will be within 4-5 years between additional savings, paying off the last bit of mortgage, and market growth. DH will also get a moderate pension from the Fed Govt.

I'm the earlier poster in my late 50s who retired a half dozen years ago and now has a net worth of $7.3 million -- not quite what you have but in the ballpark. Interesting enough, we also have two houses with close to $2 million in equity between them and have elected to keep the mortgage on one. Out of curiosity, why are you waiting? Why do you feel the need to "get to $10m before retirement," especially if you're thinking it'll take another 4-5 years? By then you'll be in your 60s and will have wasted another 4-5 years when you have to have plenty of money already. Time is more precious than anything else at this point. What expenses do you have not including your mortgage makes you conclude that you need $10 million? We are leaving like kings and queens on less than what you already have . . .

Not the poster you’re responding to but here’s my answer: there is a lot of satisfaction in work and while I don’t want to continue working deep into my 60s, I do worry that I’d get bored/restless if I stopped in my 50s. It’s a delicate balancing— who knows if I’ll get it right.

Anonymous wrote:54, married, two kids, HHI of $220,000 annually.

Net worth is $1.8 million, plus one of us (DH) would immediately start receiving a $55,000 annual pension if he left his federal government job today.

That includes -

Enough in 529 accounts to pay for the rest of two kids college (one a senior, one a freshman)
$865,000 in retirement accounts.
$565,000 in home equity
$250,000 in mutual fund investments.

I know there are different ways to calculate the value of the pension - the way I look at it, I would need about $2 million in safe investments earning 4% a year to have $50,000 in guaranteed income. So I guesstimate that the pension has a value of about $2 million.